Reid expects Bernanke to be confirmed

Senate Majority Leader Harry Reid (D-Nev.) praised President Obama today for nominating Fed Chairman Ben Bernanke to a second term and said he expects Bernanke to win Senate confirmation.

"Chairman Bernanke has played an important role in our nation's economic recovery efforts. His expertise and leadership as Federal Reserve Chairman have been crucial as our nation has endured this financial crisis," Reid said.

"His re-nomination will bring continuity to the Federal Reserve that will send the right signal to the marketplace. I support President Obama's decision to re-nominate Chairman Bernanke and expect the Senate to re-confirm him," Reid added.

Bernanke has been criticized for helping to orchestrate bank bailouts and for allegedly pressuring Bank of America to go through with its acquisition of Merrill Lynch despite the doubts of some top executives.